In GST, the term “aggregate turnover” is quite crucial as it determines: Whether a person is required to obtain GST registration? If a person entitled to enroll in the Composition Scheme? Whether a business must file GSTR-9 and GSTR-9C or not? What is Annual Aggregate Turnover (AATO)? The term “aggregate turnover” is defined in the GST law as “the value of all taxable …
As the name implies, a consolidated e waybill (GST EWB-02) is a document that contains multiple e-way bills. When a supplier agrees to transport many consignments in a single (shared) vehicle, consolidated e-way bills are generated. As a result, a consolidated e-way bill acts as a one-stop solution for all the worries related to the …
FMCG is one of the main sectors in the Indian market that got benefitted due to the implementation of the e-way bill. Therefore, it becomes important to understand the impact of the e-way bill on the FMCG sector. Let us take you through the same in these 2 minutes read. What is an E-Way Bill? An E-way bill is a document that is …
Every person who is registered as a normal taxable person under GST needs to file GSTR-1 monthly or quarterly. And, any error in it can lead to penalties and interest. Hence, you must reconcile the sales register and GSTR-1. What are Sales Register and GSTR-1? A sales register shows the data of the sales made …
To avoid input tax credit reversal due to any mismatch in information detailed by provider and recipient, you must cautiously reconcile the data in the purchase register and GSTR-2B. So, in this blog, we will talk about the importance of reconciliation between the purchase register and GSTR-2B. What is Purchase Register? A purchase register shows …
The GSTN has introduced various new features on the GST portal to promote ease of doing business. So, in this blog, we have compiled all these new features introduced on the GST portal for the benefit of taxpayers. New Features Introduced on GST Portal GST Returns The taxpayers under QRMP Scheme have been given an …
Under GST, the obligation to dispatch GST to Government emerges at the time of supply. Time of supply is by and large is the most important one of the three occasions, to be specific getting payment, issuance of receipt, or completion of supply. Notwithstanding, in certain conditions, the time of supply could be diverse depending …
Logistics holds the key to the development of the e-commerce industry. Moreover, logistics is one of the measuring rods that is now been used to determine the e-commerce operators’ performance and customer satisfaction services. In India, half of the e-commerce operators are managing their logistics by traditional logistics service providers such as DTDC, India Post, DHL, FedEx, and so forth. And the other half …
A GST audit involves the review of the records, returns, and different archives of a taxpayer. It likewise checks the precision of the turnover pronounced, taxes paid, discounts, and input tax credit availed, just as other GST Act compliances it should be approved by an authorized representative. So, in this blog, we will look into the GST …
